Income tax return

This query is : Resolved 

08 April 2015 Hi All
Salry Income 266000 less -9600-2500-3900(TA, PT & TDS respectively)
there is noi liability of IT do i have to file Income tax Return??????????
thnx
preet

08 April 2015 Hi,

The exemption from filing I-T returns is applicable only if 'the total income of the employee does not exceed Rs. 5 lakh ... (and) the annual interest earned from savings bank account is less than Rs. 10,000' for assessment year 2012-13.

Filing I-T returns is, however, necessary to claim refunds

In your case,

prima facie, There are refund of around Rs. 400 /- check your refund status if there will be any refund then you need to file IT return to claim IT refund.

09 April 2015 Hi
Thanks alot,given complete information, got clarity
thnx
preet


09 April 2015 Exemption from ITR filing was only available for A/Y 2011-12 & 2012-13.

If Income exceeds 5 Lakhs E-filing is mandatory.


09 April 2015 Yes agreed with CA Karan . .(y)

10 April 2015 so in my case where Gorss total income is Taxable but there is no tax liability beacasue of TDS, do i have to file the Return???????????
thnx
preet

10 April 2015 Yes you are required to file the return of income since your Total Income exceeds the basic exemption limit. Agree with the experts.



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